More than 400 Micro, Small and Medium-sized Enterprises (MSMEs) across the Eastern Caribbean have been supported to take their business operations to the next level, thanks to UNDP’s FUT-Tourism project.
In 2021, the United Nations Development Programme (UNDP) Barbados and the Eastern Caribbean partnered with the Caribbean Development Bank, the University of West Indies Global Campus (formerly the Open Campus) and the Frankfurt School of Finance and Management, to deliver the FUT-Tourism Project aimed at assisting Micro, Small and Medium Enterprises (MSMEs) in the tourism sector to recover from the negative impact of the COVID-19 pandemic on economic activity.
As the FUT-Tourism project wraps up in 2024, over 400 MSMEs across 10 Eastern Caribbean countries and territories served by UNDP’s Multi-Country Office were trained, and 189 MSMEs, of which 77% are women-owned, received USD$800,000 in financial support resulting in over 300 business processes digitized.
The program was delivered through online training, one-to-one technical assistance, and mentorship.
Katherine Daniel of Southpaw Grafix Inc. (Barbados), who completed the programme, said, “The training provided is excellent, and my mentor has enabled me to plan and implement new projects. The ideation behind creating various client persona and working out their pain points and how to solve their problems is extremely helpful. I really appreciate the support and the information provided!”
UNDP Barbados and Eastern Caribbean Resident Representative, Limya Eltayeb, highlighted the importance of regional partnerships to implement relevant interventions: “The Future Tourism Project has been an example of the power of collaboration and innovation. By bringing together partners from the public and private sectors, we have supported the transition of micro and small businesses to medium enterprises and have supported them in digitalising their product and communications. We continue to champion expanding local markets, resilient local businesses, regional collaboration, and the power and potential of digital transformation as being key for the competitiveness, resilience, and ultimate prosperity of MSMEs across the Eastern Caribbean”.
Fatima Dirkes, Director at the Frankfurt School of Finance and Management, commended the practical solutions the programme has offered MSMEs, noting, “By focusing on practical, technology-driven solutions, together we aim to unlock the potential of every entrepreneur, catalyzing a wave of sustainable development that resonates across the Eastern Caribbean. This is more than a partnership; it’s a commitment to build a sustainable future.”
